Evercore's Altman predicts a 'moderate' recession for the second half of the year

Roger Altman, Evercore founder and senior chairman, joins 'Squawk Box' to discuss the impact of the Wednesday's 10th consecutive rate hike, how the Fed misjudged the tenacity of this inflation, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: » Subscribe to CNBC TV: » Subscribe to CNBC: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: #CNBC #CNBCTV ...(read more)

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We are going to have a 'moderate' recession in the second half of the year, says Evercore's Altman The global economy has been in a state of uncertainty and flux due to the ongoing COVID-19 pandemic. With countries struggling to contain the virus and economies experiencing significant disruptions, experts have been pondering the potential outcomes and predicting the future trajectory. Evercore's president and co-founder, Roger Altman, recently stated that he believes we are heading towards a moderate recession in the second half of the year. As a prominent investment banking advisory firm, Evercore's insights hold significant weight in the financial community. Altman's prediction is based on a variety of factors that are currently at play. Firstly, the emergence of new COVID-19 variants and their potential impact on the efficacy of existing vaccines has raised concerns among public health officials and investors alike. As countries grapple with vaccination drives and the possibility of additional lockdowns or restrictions, economic recovery becomes uncertain. Another factor contributing to Altman's prediction is the global supply chain challenges. Throughout the pandemic, various industries have experienced disruptions, leading to shortages of essential goods and inflationary pressures. These disruptions have ranged from semiconductor shortages impacting the tech industry to container shipping delays affecting trade flows. The continuation of disrupted supply chains could impede economic growth in the latter half of the year. Furthermore, Altman highlights the potential for reduced government stimulus as economies recover. Many countries implemented large-scale economic stimulus packages to cushion the impact of the pandemic. As the global economy gradually recovers, governments may cut back on these measures, leading to a reduction in consumer spending and subsequent economic slowdown. Altman's use of the term 'moderate' recession is worth noting. While the term recession typically generates concern, attaching 'moderate' to the prediction suggests a more manageable downturn compared to the severe recession experienced in 2020. This outlook provides some consolation but underscores the need for caution as we navigate the uncertain economic landscape. It is important to note that Altman's prediction is just one perspective among a multitude of forecasts. Other analysts may hold differing opinions, and the eventual outcome will depend on a variety of complex variables. Nonetheless, Altman's track record and Evercore's stature in the investment banking sector add credibility to his statements. While the prediction of a 'moderate' recession may be concerning, it also serves as a call to action for governments, businesses, and individuals. By acknowledging the potential for economic challenges and preparing for them, we can mitigate some of the negative effects. Governments should prioritize continued support for their economies, striking a balance between curbing inflation and ensuring sustained growth. Businesses should focus on diversifying their supply chains to minimize the impact of disruptions, while individuals should remain cautious with their financial decisions. In conclusion, Evercore's Altman warns of a 'moderate' recession in the second half of the year. His prediction is based on a range of factors including the ongoing uncertainty surrounding COVID-19, supply chain challenges, and potential reductions in government stimulus. While the outlook may be concerning, preparations and proactive measures can help mitigate the impact and pave the way for a more resilient and sustainable recovery. https://inflationprotection.org/evercores-altman-predicts-a-moderate-recession-for-the-second-half-of-the-year/?feed_id=116145&_unique_id=64ac9f689c334 #Inflation #Retirement #GoldIRA #Wealth #Investing #breakingnews #businessnews #cable #cablenews #CNBC #financenews #financestock #financialnews #money #moneytips #newschannel #newsstation #SquawkBoxU.S. #stockmarket #stockmarketnews #Stocks #usnews #worldnews #RecessionNews #breakingnews #businessnews #cable #cablenews #CNBC #financenews #financestock #financialnews #money #moneytips #newschannel #newsstation #SquawkBoxU.S. #stockmarket #stockmarketnews #Stocks #usnews #worldnews